Ministry of Finance and China International Development Cooperation Agency reach agreement

Kathmandu: The Ministry of Finance of Nepal and China International Development Cooperation Agency have reached consensus to expedite the implementation and construction of China-funded development projects in Nepal.

In a video conference meeting held on Thursday between Ministry of Finance and China International Development Cooperation Agency (CIDCA) held comprehensive discussions regarding the implementation status of the China-funded development projects in Nepal and the upcoming initiations needed to be taken from both sides for expediting the implementation of the pipeline projects.

Addressing the meeting, Secretary at the Ministry of Finance, Sishir Kumar Dhungana, highlighted on the status of various cooperation between two countries saying it was gratifying that the projects undergoing with the grant assistance and concessional loan from China are being smoothly implemented. Secretary Dhungana also vowed to upscale the partnership with China to a new height.

He further added that Nepal and China need to jointly coordinate to resolve the existing issues related to the execution of different projects and to facilitate the construction of the projects in the stipulated time.

Likewise, Vice Chairman of CIDCA Deng Boqing, said China has already taken initiations to resolve the issues related to the execution of the ongoing projects. He also said they were committed to carrying out the important pipeline projects those preparatory works that have been already finalized by the Government of Nepal.

He added that plans related to the improvement of Araniko Highway and the Ring-Road Improvement Project(Phase II)  are going to be initiated soon.